All Oil companies stories

Ben Geman, author of Generate
Sep 9, 2020 - Energy & Environment

The yin-yang of Trump's drilling policy

Photo: Alex Wong/Getty Images

It would be easy to feel some whiplash over recent Trump administration moves on oil-and-gas industry access — or lack thereof — to areas currently off-limits.

Driving the news: Trump used a Tuesday stop in Florida — a swing state with a huge electoral vote bounty — to announce an order that keeps the eastern Gulf of Mexico off-limits through 2032.

Ben Geman, author of Generate
Sep 8, 2020 - Energy & Environment

Trump extends Florida offshore drilling ban

Photo: Mandel Ngan/AFP via Getty Images

President Trump said Tuesday that he will extend a longstanding ban on offshore drilling off the coast of Florida, a critical 2020 swing state, and expand it to Georgia and South Carolina.

Why it matters: The announcement would further seal off the eastern Gulf of Mexico, a region long-coveted by oil companies.

Ben Geman, author of Generate
Sep 8, 2020 - Energy & Environment

The oil market's recovery loses ground

Data: Yahoo; Chart: Axios Visuals

The oil market's recovery from the depths of the pandemic-fueled collapse has gone into reverse lately.

Driving the news: Prices stalled in the low $40s per barrel for the U.S. benchmark WTI several months ago and have been losing ground in recent days.

Amy Harder, author of Generate
Sep 3, 2020 - Energy & Environment

Americans are flying more than Europeans despite the pandemic

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Data: U.S. Energy Information Administration; Chart: Axios Visuals

Americans are hopping on planes more than their counterparts in Europe and the rest of the Western hemisphere, a new U.S. Energy Information Administration analysis shows.

Why it matters: Persistently subdued air travel is one of the biggest reasons analysts are increasingly expecting global oil demand to plateau below pre-pandemic levels.

Ben Geman, author of Generate
Aug 21, 2020 - Energy & Environment

Where U.S. fossil fuel companies are shedding jobs

Data: BW Research; Table: Axios Visuals

Various fossil fuel industries shed a combined 118,000 jobs in the March-July period, per a BW Research analysis.

Why it matters: It's a window onto the effects of the coronavirus pandemic on the sector's workers.

Ben Geman, author of Generate
Aug 18, 2020 - Energy & Environment

How Biden could thwart Trump's Arctic push

Photo illustration: Sarah Grillo/Axios. Photos: Bastiaan Slabbers/NurPhoto via Getty Images

The decadeslong fight over drilling in the Arctic National Wildlife Refuge is nowhere near over, despite the Interior Department taking a big step Monday toward allowing development.

Catch up quick: The Interior Department issued a final plan — called a record of decision (ROD) — to allow exploration in the refuge's 1.6-million-acre coastal plain.

Ben Geman, author of Generate
Updated Aug 17, 2020 - Energy & Environment

Trump administration finalizes drilling plan for Alaska Arctic refuge

Polar bears in the Arctic National Wildlife Refuge. Photo: Sylvain Cordier/Gamma-Rapho via Getty Images

The Interior Department on Monday finalized plans to open Alaska's Arctic National Wildlife Refuge to drilling, a pivotal — but hardly the final — step in a decades-long battle over the ecologically sensitive region thought to hold huge oil deposits.

The big picture: Former Vice President Joe Biden's campaign said he would look to prevent drilling if elected. "His plan released last year made clear that he will permanently protect ANWR and other areas impacted by President Trump's attacks on federal lands and waters," the campaign said.

Ben Geman, author of Generate
Aug 17, 2020 - Energy & Environment

U.S. oil-and-gas drilling continues to decline

Data: Baker Hughes; Chart: Axios Visuals

The combined number of active U.S. oil and natural gas drilling rigs slid again last week, per data compiled by the oilfield services firm Baker Hughes.

Why it matters: It signals the pullback in new development that will keep U.S. output below pre-pandemic levels for a long time.

Ben Geman, author of Generate
Aug 17, 2020 - Energy & Environment

The oil industry faces deepening uncertainty

Illustration: Aïda Amer/Axios

The oil industry is facing an immense amount of uncertainty, even for a sector that bobs along in the currents of global markets and geopolitics despite its enormous power.

The big picture: As Democrats hold their convention this week, seeking a boost for Joe Biden heading into the heart of the 2020 campaign, the election is unfolding against another huge source of uncertainty for the industry: the coronavirus pandemic.

Ben Geman, author of Generate
Aug 13, 2020 - Economy & Business

Chevron's venture capital arm buys stake in nuclear fusion startup Zap Energy

Photo Illustration: Walid Berrazeg/SOPA Images/LightRocket via Getty Images

Chevron is making a Series A investment in the three-year-old nuclear fusion startup Zap Energy, marking the latest foray by an oil-and-gas giant into companies outside a core business.

Why it matters: It's the first nuclear power investment from Chevron Technology Ventures, the company's in-house VC arm that's spreading money around a range of energy technologies.